Freewest Resources Canada Inc.

Freewest Resources Canada Inc.
Cliffs Natural Resources Inc.

Cliffs Natural Resources Inc.

December 01, 2009 18:38 ET

Freewest Announces Exercise of Warrants by Cliffs Natural Resources Inc.

- Freewest to issue 7,375,000 shares to Cliffs at a price of $0.45 per share, for proceeds to Freewest of $3,318,750

MONTREAL, QUÉBEC--(Marketwire - Dec. 1, 2009) - Freewest Resources Canada Inc. (TSX VENTURE:FWR) announces that it has been notified by Cliffs Natural Resources Inc. (NYSE:CLF)(PARIS:CLF) that Cliffs intends to exercise all of its 7,375,000 Freewest warrants at a price of $0.45 per share. Upon the exercise of the warrants, Freewest will receive proceeds of $3,318,750. Cliffs acquired the warrants in June 2009 as part of a $5.16 million private placement with Freewest.

The proceeds from the exercise of the warrants will be used by Freewest for working capital purposes and for continuing work on Freewest's 100%-owned McFaulds property.

Upon the exercise of the warrants, to Freewest's knowledge, Cliffs will indirectly hold 29,033,440 Freewest shares, representing approximately 12.65% of the 229,508,479 shares that will be issued and outstanding.

About Freewest

Freewest is a mineral exploration company actively exploring for gold, base-metals and chromite within eastern Canada. Corporate information can be accessed on the Internet at Freewest's shares are listed on Tier 1 of the TSX Venture Exchange under the symbol FWR.

Georgeson Inc. is acting as Freewest's solicitation agent in connection with a proposed Plan of Arrangement with Cliffs Natural Resources Inc. Georgeson may be contacted as follows:

100 University Avenue
11th Floor, South Tower
Toronto, Ontario
M5J 2Y1

North American Toll Free Number: 1-866-433-7579
Banks and Brokers Collect Number: 1-212-806-6859

Forward-Looking Statements

This news release contains statements that constitute "forward-looking information" or "forward-looking statements" within the meaning of applicable securities legislation. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of Freewest Resources Canada Inc. ("Freewest"). Actual results or achievements may differ materially from those expressed in, or implied by, this forward-looking information. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits that Freewest will derive therefrom. In particular, no assurance can be given as to whether a proposed plan of arrangement with Cliffs Natural Resources Inc. will be completed. Forward-looking information is based on the estimates and opinions of Freewest's management at the time the information is released and Freewest does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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